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Sainsbury&#39s pledges to beat rivals&#39 rates

Sainsbury&#39s Bank has promised to pay higher rates of interest on its savings accounts than market rivals for the next five years.

It says ten percent of savers have not reviewed the rate of interest on their investments for at least three years and are likely not getting the best deal as a result.

Savings manager Donald Jarvie believes many banks reduce interest rates in the assumption that customers will not realise, or act upon it.

He says: “Millions of pounds could be restored if they switched to accounts that consistently paid fair rates.”


&#39With-profits being vilified unfairly&#39

With-profits is being forced out of existence by obsessive regulation and negative publicity, says Datamonitor.Its new report says despite with-profits being a strong product for long-term savings, it will play a much smaller role in future as managed funds, distribution funds and eventually capital guaranteed funds become the main underlying investments.It believes this is due […]

Lawyer extends referral service

Peninsula, the employment law consultancy, is to extend its referral-based service to all IFAs following a successful trial period.Five hundred IFAs active in the corporate market have joined in partnership with Peninsula over the seven-month trial period.The relationship involves IFAs referring corporate clients who may need from legal advice to Peninsula.Peninsula shares the fee on […]

Flexible loan could be turned into equity release

Equity-release lenders are looking at a new form of product that develops from a flexible mortgage to become a lifetime mortgage, according to Prudential national mortgage club manager John Malone.He says the equity-release market is moving towards a new product built around a flexible mortgage. He says the product will enable a 60year-old borrower who […]

Lifeboat to unite four divisions in one brand and license advisers by product

Midlands-based Lifeboat Financial Group is bringing its four divisions into one single adviser division and will license its advisers by product area.The group is amalgamating the four divisions into Lifeboat Financial so it can trade under one brand name and bring its mortgage and general insurance brokers over to the regulated environment.The group has 114 […]


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